Delta Air Lines (NYSE:DAL) Releases Earnings Results, Misses Expectations By $0.01 EPS

Delta Air Lines (NYSE:DAL) announced its quarterly earnings data on Thursday. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01), RTT News reports. Delta Air Lines had a return on equity of 37.64% and a net margin of 7.46%. The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same period in the prior year, the business earned $2.68 earnings per share. Delta Air Lines’s revenue was up 5.4% on a year-over-year basis.

Delta Air Lines Stock Down 3.0 %

Shares of Delta Air Lines stock traded down $1.37 during midday trading on Friday, hitting $43.62. The company’s stock had a trading volume of 16,716,987 shares, compared to its average volume of 8,598,891. Delta Air Lines has a 1-year low of $30.60 and a 1-year high of $53.86. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $28.15 billion, a P/E ratio of 6.28, a PEG ratio of 0.79 and a beta of 1.35. The stock has a 50-day simple moving average of $49.91 and a 200-day simple moving average of $45.49.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be paid a dividend of $0.15 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.38%. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s payout ratio is 5.76%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HSBC assumed coverage on Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Jefferies Financial Group decreased their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, June 28th. Citigroup lifted their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $60.36.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the transaction, the executive vice president now owns 112,421 shares in the company, valued at approximately $5,879,618.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $49.50 per share, for a total transaction of $495,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $495,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now owns 112,421 shares in the company, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,919 shares of company stock valued at $8,834,653. Company insiders own 0.96% of the company’s stock.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.